Ping An boss quits Fortis supervisory board

A member of the Fortis Holding supervisory board – Louis Cheung Chi Yan – has resigned with immediate effect, the financial services group said in a statement on Sunday night.

Louis Cheung Chi Yan is president and executive director of the Chinese insurance group Ping An which has a 5% stake in Fortis. No reason for the resignation was given.
Fortis also announced that Andrew Spencer Doman, who had been nominated to join the management board on behalf of Ping An, has withdrawn his candidancy.
Last week it was agreed that Fortis Holding, which is based in Belgium, would continue as an insurance company.
Last year, Ping An agreed to invest €2.15bn in buying half of Fortis’ asset management division but the deal was put on ice following the group’s share price collapse and break up.

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